Executive stock options and agency costs

Mann, Matthew. (2004). Executive stock options and agency costs Honours Thesis, School of Business, The University of Queensland.

       
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Author Mann, Matthew.
Thesis Title Executive stock options and agency costs
School, Centre or Institute School of Business
Institution The University of Queensland
Publication date 2004
Thesis type Honours Thesis
Language eng
Subjects 15 Commerce, Management, Tourism and Services
Formatted abstract The objective of this thesis is to examine the effectiveness of executive stock options in alleviating agency costs in Australian companies. This thesis seeks to investigate this relationship through two hypotheses. The first is the relationship between two measures of executive options and accounting performance. The second is to examine the use of earnings management within executive option granting firms to assess the incentives to manipulate performance measures. Using collected data from Connect 4 of the Top 500 companies from 1998-2002, these companies are tracked over a period of five years. The results of this thesis demonstrate that executive options do not reduce agency costs in companies. Subsequently, the results of this study demonstrate an association between executive Opti011S and earnings management. These timely results appear to have both theoretical and practical implications for companies in light of a number of legal, accounting and ASX guideline changes currently being introduced in Australia.

 
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Created: Fri, 19 Nov 2010, 13:01:13 EST by Muhammad Noman Ali on behalf of The University of Queensland Library